In a domestic situation losing a key can be frustrating. You can get a locksmith to replace your lock and provide replacement keys and, although costly in time and effort it does not involve significant expense. In commercial settings the impact can be far greater. One institution in America had to spend in excess of £460,000 replacing locks and installing a more effective system to secure keys to avoid this situation in the future.
In the event of keys being lost, not only will you have to replace the keys, the locks will need rekeying or replacing and there is an increased security risk in the time between key loss and the reinstatement of locks. The threat of vandalism or theft is real as everything that the key grants access to is at risk.
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